The informal currency market in Cuba kicks off this Monday, August 3, with a mixed outlook: the U.S. dollar remains steady, the euro sees a modest increase, and the MLC (Moneda Libremente Convertible) rises slightly, albeit with limited trading activity.
This week begins without significant market shocks, yet the Cuban peso continues to depreciate steadily against major currencies over the past month.
The U.S. Dollar: Holding Its Ground
The U.S. dollar is trading at 673 Cuban pesos (CUP) in the informal market, with a buying rate of 670 CUP and a selling rate of 675 CUP. It shows no change from the previous trading day, maintaining the same rate of 673 pesos.
Looking at a week ago, the difference is minimal: the dollar was valued at 674 CUP, just one peso higher than its current rate. However, if we examine the past month, the dollar was trading around 645 pesos, marking an increase of about 28 pesos over this period.
The demand for dollars remains high among those looking to protect their savings from the depreciating peso.
Euro's Modest Rise
The euro has slightly increased this Monday, trading at 787 Cuban pesos (CUP), with a buying rate of 780 CUP and a selling rate of 794 CUP. This is an increase of 2 pesos from the previous day, when it was reported at 785 CUP.
In comparison to a week ago, the euro is a peso below the 788 CUP it reached seven days back. Over the past month, the European currency has climbed 55 pesos from 732 CUP, a 7.5% increase that may reflect methodological adjustments in the index.
The euro outpaces the dollar by 114 pesos, solidifying its dominant position in Cuba's parallel market.
MLC: A Guideline Value
The MLC is approximately valued at 480 Cuban pesos (CUP), with an estimated buying rate of 447 CUP and a selling rate of 513 CUP. This is a rise of 6.5 pesos from the previous session's 474 CUP, though this figure should be approached cautiously, as trading volume is low, reducing the value’s representativeness.
Weekly comparisons show the MLC has decreased by 14 pesos from the 494 CUP of seven days ago. Without a physical presence, its use is confined to government-run stores that accept "plastic money," limiting its circulation compared to cash currencies.
Summary of Informal Market Exchange Rates
Exchange rate for the U.S. Dollar (USD) to CUP: 673 CUP. Exchange rate for the Euro (EUR) to CUP: 787 CUP. Exchange rate for the MLC to CUP: 480 CUP (guideline value, limited data).
The official exchange rate set by the Central Bank of Cuba (Segment III) remains at 615 CUP per dollar and 707 CUP per euro, significantly below the practical rates in the informal currency market.
Although Segment III was introduced as a more flexible currency mechanism, its official rates are far from those in the informal market and fail to meet the real currency demand of the population. The gap between the two markets exceeds 58 pesos for the dollar and 80 pesos for the euro.
In a scenario marked by persistent inflation, low state salaries, and increasing partial dollarization of the economy, each fluctuation in the informal market directly affects internal prices and the purchasing power of Cubans.
The CiberCuba Exchange Rate is an index of Cuba's informal market, derived from automated analysis of thousands of currency trading posts in Telegram and Facebook groups.
This calculation excludes atypical offers and spam messages, weights each transaction based on its age, and consolidates a representative value that is updated several times daily.
Conversion of U.S. Dollar (USD) to Cuban Peso (CUP) based on exchange rates for this Monday, August 3, 2026:
- 1 USD = 673 CUP
- 5 USD = 3,365 CUP
- 10 USD = 6,730 CUP
- 20 USD = 13,460 CUP
- 50 USD = 33,650 CUP
- 100 USD = 67,300 CUP
Conversion of Euro (EUR) to Cuban Peso (CUP) based on exchange rates for this Monday, August 3, 2026:
- 1 EUR = 787 CUP
- 5 EUR = 3,935 CUP
- 10 EUR = 7,870 CUP
- 20 EUR = 15,740 CUP
- 50 EUR = 39,350 CUP
- 100 EUR = 78,700 CUP
- 200 EUR = 157,400 CUP
Understanding Cuba's Informal Currency Market
Why is the informal currency market significant in Cuba?
The informal market plays a crucial role in Cuba due to the limitations and unavailability of foreign currency at official rates, making it a primary source for many Cubans to access the currency they need.
What causes the gap between official and informal exchange rates in Cuba?
The disparity arises from the high demand for foreign currency, which is not met by the official channels, forcing people to turn to the informal market where rates reflect real-time demand and supply.
How does the MLC function in Cuba's economy?
The MLC is used in state-run stores that accept digital payments, offering a way to purchase goods not available in national currency, but it lacks physical form, limiting its use compared to cash.